Set to Germany, France and Italy and is five times the contribution of Spain
BRUSSELS, 21 (IRIN)
Poland will provide, through its national development bank (Bank Gospodarstwa Krajowego), a total of 8,000 million euros to strengthen the investment plan promoted by President of the European Commission, Jean Claude Juncker, whose aim is to mobilize 315,000 million in three years to revive the European economy.
Poland thus becomes the sixth EU country that contributes to Juncker plan. Its contribution equals by Germany, France and Italy and is five times the contribution announced by the Spanish Government (1,500 million euros). Luxembourg has said it will table € 80 million.
The Juncker plan is based on the creation of a new European Strategic Investment Fund (EFSI, for its acronym in English), which has only 21,000 euros of public funding (from the EU budget and the European Investment Bank) to attract private capital.
The Ecofin endorsed the proposal of the Commission on 10 March, but the Parliament rejected this Juncker plan Monday that use EU funds for R & D and infrastructure as capital. Now the two institutions must reach an agreement by June for the EFSI be operational at the latest in September
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